Stocks recover, boosted by large-cap stocks

December 14, 2016 | 15:22

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Shares rebounded on both local exchanges on Wednesday morning, driven by large-cap stocks.

Shares bounced back on Wednesday morning, driven by investors' purchases in mid-cap and small-cap stocks that had suffered from recent declines.

The benchmark VN Index on the HCM Stock Exchange gained 0.9 per cent to close at 660.7 points, while HNX Index on the Ha Noi Stock Exchange edged up 0.5 per cent to end at 78.4 points.

Market trading liquidity rose in comparison to previous early sessions, with 170 million shares worth VND1.39 trillion (US$61.7 million) being traded.

Blue chips closed in positive territory with the shares of dairy producer Vinamilk (VNM), private equity firm Masan Group (MSN), Vietcombank (VCB), insurer Bao Viet Holdings (BVH) and Faros Construction Corp (ROS) going up.

Middle-cap and small-cap stocks, especially those hit by strong selling in the previous sessions, were attractive to investors. Hoang Quan Consulting-Trading-Service Real Estate Corp (HQC) surged 6.9 per cent, ending a 10-day decline of 53 per cent.

The agriculture-fishery-forestry sector showed the strongest growth, led by Hoang Anh Gia Lai JSC (HAG) and its subsidiary Hoang Anh Gia Lai International Agriculture JSC (HNG). Natural rubber producers such as Phuoc Hoa Rubber JSC (PHR), Tay Ninh Rubber JSC (TRC) and Dong Phu Rubber JSC (DPR) continued to rise strongly.

The State Bank of Viet Nam on Wednesday increased its daily reference mid-point rate for trading between the dong and US dollar by VND4 to VND22,124 for a dollar.

VNS

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